CEO Elon Musk sold another $3.58 billion worth of Tesla stock this week, raising the total to nearly $23 billion since April.
The stock slipped to $153 in premarket trading and is nearing two-year lows., sold the shares from Monday through Wednesday, according to a filing posted Wednesday night by the U.S. Securities and Exchange Commission. It wasn’t clear how the proceeds were being spent.Musk has sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to help fund his $44-billion acquisition of Twitter.
“The Twitter nightmare continues as Musk uses Tesla as his own ATM machine to keep funding the red ink at Twitter which gets worse by the day as more advertisers flee the platform with controversy increasingly driven by Musk,” Ives wrote.
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